Succession Planning

The issue of Succession Planning; wills and the safeguarding of family assets and estate, can be a touchy one as it brings to the fore the realisation of mortality, which often causes people to avoid making the appropriate arrangements for what will happen to their legacy upon their passing.

And yet, it is one of the most important requirements for families – especially those who have significant wealth or assets, and requires much thought and expert guidance from a firm that is well-versed in the laws surrounding inheritance.

Kaimakliotis & Co handles the issues that fall under Succession Planning in a thorough, discrete and sensitive manner, and allows families to work through any issues that could arise with the allocation of funds, trusts, assets, estate and inheritance, including the division of assets between multiple successors and successors outside of the family – and the country.

Furthermore, we are experts at handling any disputes regarding contested or neglected inheritance – however old - advising on rights and claims, and negotiating for out of court settlements, or pursuing them through the legal mechanisms where required.

In 2015, Cyprus Estate Planning & Succession laws became subject to the provisions of the new European Succession Regulation 650/2012. The new provisions have simplified succession laws throughout the European Union (EU), and now easily determine which state has jurisdiction and what law is applicable to the deceased’s estate in cases of cross-border successions – which is to the benefit of Cyprus residents.